Please Don’t Put Me On The Shelf: Simple Strategies For Utilizing Your Major Gifts Analytics!

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So… Your organization just finished reviewing the results from your Target Analytics modeling project identifying prospects for major gift opportunities. Whether you have Major Giving Likelihood (MGL) and Target Gift Range (TGR) custom modeling scores, Fundraising Essentials ‘M’ Donor Type and Next Ask Amounts of $1,001 or Raiser’s Edge NXT integrated analytics that are similar to the Fundraising Essentials analytics, you can benefit from the following 3 easy next steps to do with your results:

Review new information for major gift prospects you already know well – Decide for each of them if you should adjust solicitation timing or ask amount based on the new Target Analytics data
- On a basic level, it is critical to import your data into your CRM system and then review the newly provided modeling scores for those prospects you already know well and/or are assigned to a major gifts staff member to manage. If their scores (both likelihood and capacity) are higher than you were targeting prior to your analysis, I recommend doing some prospect research to determine overall capacity.
  - For those of you with ResearchPoint, be sure to review refreshed/updated WealthPoint screening results.
  - If possible, have a key player at your organization provide some insights (i.e., advisory board member).
  - You may want to move up the timeline for meeting with your prospects based on the new information.
  - During cultivation meetings with these prospects, you will make a final determination on the final solicitation amount, but at least you have a guide on who to elevate in your portfolio and prioritize for immediate action.
- For those who are assigned or known well and are scoring below your expectations, once again, review their prospect research data, and unless there is some documentation as to why they are in your portfolio and under management, you should move them to a different level of engagement at your organization, such as mid-level or annual fund activities.
- For example, if you have a prospect who has an MGL of 350 and TGR of 3 ($101-$250 annual potential), you should have some documentation as to why they are being managed. Just because someone at one time said to call on these lower scoring prospects, you have to think strategically about whether they have any affiliation to you and ask the following questions:
  - Are they even donors?
  - Have they given a gift in the past 3-5 years?
  - Do we have information in our database indicating that they care about our organization or have engaged with us in the past few years?
  - Are they just simply wealthy and have no real affinity for our organization?
Look to see where you have clusters of newly identified high capacity prospects – Choose a few cluster groups and begin to cultivate them for higher level gifts

If you have MGL and TGR custom modeling scores, then utilize the TGR and MGL scores as a way to prioritize those you want to assign for major gifts qualification efforts.
Below are sample results with the MGL/TGR crosstab, so maybe you look at the 25 prospects with excellent MGL 901-1000 and TGR 10-12 ($25K annual amount) to see if there is anyone who is not currently in your pipeline or on your radar. It’s a great place to start, and then continue reviewing the 18 with very good MGL 801-900 with those same high TGR scores.

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If you have a ResearchPoint subscription, make sure you do a WealthPoint screening on any prospects you wish to assign and qualify so that you have some initial insights on these prospects. I recommend not spending more than 10-15 minutes on reviewing this data, so as to not get caught going down the rabbit hole of data mining. Nothing should stop you from getting on the phone and trying to get ahold of these top scoring prospects.

For everyone else with high major giving scores, send them periodic information about organizational accomplishments – This gives them higher-touch treatment even when they aren’t yet assigned to a solicitor
- Most of the clients I work with do not have enough staff to assign and qualify all the major gift prospects identified through analytics. If this is your situation, I recommend engaging these larger groups of prospects at a higher level than annual fund direct marketing strategies. Think about sending personal letters, cards, email, etc. with your organization’s mission, accomplishments, and future goals. In these communications, focus on any funding priorities and specifics on how these prospects can help fund your goals if they give at a higher level. Consider a two-pronged strategy, such as sending more personalized letters followed up by more personalized emails, both of which could be sent via mail merge via MS Office functionality.
- If these prospects respond to your engagement activities, then consider assigning to a gift officer for further qualification efforts.

For those clients who have RE NXT imbedded analytics or Fundraising Essentials and have ‘M’ Donor Types – meaning they have inclination for a major gift to your organization – you can prioritize the 3 easy next steps outlined above by focusing on those with Next Ask Amounts of $10,001 . Below are sample results which note a focused major gifts strategy with the 68 prospects who have Next Ask Amounts of $10,001 ,

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Then next you can focus on those with $5,001-$10,000. If you need to further refine your list of prospects, then include those with Total Identified Assets / Wealth Ratings of $1 million along with giving history and other internal data factors as deemed appropriate.

The one thing you DO NOT want to do… Nothing! Within the first 30 days of receiving your Target Analytics data results, simply start by reviewing the data and begin with Step #1. If you have some thoughts or ideas on this topic, please do share. Happy Halloween to the Target Analytics Community!

News ARCHIVED | Blackbaud Target Analytics® Tips and Tricks 10/30/2017 5:54pm EDT

Added by Carol Belair

1 Comments

Jennifer Vincent May '18

Excellent reminder - thank you!